Category
UK Savings Guides
Important: This guide provides general information, not personalised financial advice. Financial products, rates and eligibility rules can change, so check the provider’s current terms before applying. Some links are referral links — we may earn a commission. You can check a firm’s details on the FCA Register.
Quick answer
Got cash sitting in a current account? Start here. We cover easy-access, fixed-rate and notice accounts, Cash ISAs and the catches worth knowing — like bonus rates that quietly drop after a few months.
The short version: keep money you might need soon in an easy-access account. Only lock money away in a fixed or notice account if you’re sure you won’t need it. Compare accounts by AER, find out what happens when any bonus ends, and make sure the bank is covered by the FSCS.
FSCS protects eligible deposits up to £120,000 per person, per authorised institution.
The £120,000 limit applies from 1 December 2025. Older guides may still quote £85,000, the limit before that date.
Key decision routes
Pick the question you’re trying to answer.
Savings rates snapshot (18 October 2026)
Rates we found on providers’ own sites and public charts on 18 October 2026. Rates change often, so confirm on the provider’s site before you move money.
| Provider / product | Rate / offer | Key catch | Verdict | Visit |
|---|---|---|---|---|
| LemFi Instant Access | about 5.00% AER intro (then about 3.04%) | Intro rate falls to about 3.04% | Good if you’ll move your money when the intro ends | lemfi.com |
| Tembo HomeSaver | about 4.55% AER variable (includes a 1.55% AER 12-month intro rate; plus a 1.0% bonus only if you take a mortgage through Tembo) | The 4.55% includes a 1.55% intro; the extra 1.0% bonus is only paid if you complete a mortgage through Tembo within 3 years (Tembo, 18 Oct 2026) | Worth a look if you’re saving for a deposit and might use Tembo for the mortgage | tembomoney.com |
| Cahoot Simple Saver Issue 20 | about 4.52% AER intro (then about 1%) | Rate drops to about 1% after the intro | Fine if you don’t mind switching again later | cahoot.com |
| Stafford BS Access-One Saver Issue 2 | about 4.60% AER flat | One withdrawal a year; £50,000 minimum (the £5,000-minimum issue is closed); UK residents 18+; FSCS-protected building society | Good if you rarely need to dip in | srbs.co.uk |
Ready to compare savings rates? See easy-access, fixed-rate and ISA options →
The catch
The headline rate often isn’t the rate you keep. Many high easy-access rates include a temporary bonus that ends after a few months or a year. Some “easy access” accounts also limit withdrawals before the rate falls.
Fixed-rate and notice accounts usually pay more, but you can’t get at the money (or you lose interest) until the term or notice period ends. And interest outside an ISA can be taxable once it goes over your Personal Savings Allowance.
Who it’s for — and who should avoid it
Who it’s for
- People with spare cash earning little or nothing in a current account
- Anyone building an emergency fund they can reach quickly
- Savers who know roughly when they’ll need the money
- People happy to move money when a bonus rate ends
Who should avoid it
- Money you’ll need for bills this month — keep that in your current account
- Anyone who can’t meet withdrawal limits or notice periods on a restricted account
- Long-term money (10+ years) where you’re comfortable with investment risk — see Investments
- Anyone carrying expensive debt, where paying it down may matter more
FAQs
Where should I put my £10,000?
It depends on when you’ll need it. Money you might need soon usually belongs in an easy-access account; money you won’t touch for a year or more could earn more in a fixed-rate or notice account. Check FSCS cover — £120,000 per person, per authorised firm — and whether a Cash ISA makes sense for your tax position. See notice vs fixed-rate savings.
What’s the catch with a 5% rate?
Usually a bonus that ends, a limit on withdrawals, or a cap on how much earns the top rate. Read what the rate drops to afterwards — our easy-access guide shows the “then” rate where we have it.
Should I use a Cash ISA?
If your savings interest could go over your Personal Savings Allowance, a Cash ISA keeps it tax-free. The 2026/27 ISA allowance is £20,000. See ISAs and ISA allowance rules.
Is my money protected?
Eligible deposits are covered by the FSCS up to £120,000 per person, per authorised firm, from 1 December 2025. Brands that share a banking licence count as one firm. See FSCS protection limits.
Does a higher AER always beat inflation?
No. If inflation is higher than your rate, your money buys less over time. See Inflation explained.
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